53% – Percentage of Americans who said they had set aside at least three months of emergency funds in 2021, up from 49% in 2018 and 35% in 2009. It’s likely that government stimulus programs contributed to this improvement. The end of stimulus payments coupled with high inflation may make it more difficult for some Americans to maintain a financial safety net.
Source: FINRA Investor Education Foundation, 2022
About three out of five Americans who received COVID-19 stimulus payments used the funds to make purchases or pay bills, which was consistent with the federal government’s intention to stimulate the economy. However, many people used at least part of the funds to improve their overall financial position by building savings or paying down debt.
Source: 2021 National Financial Capability Study, FINRA Investor Education Foundation, 2022 (multiple responses allowed)
Copyright 2006-Broadridge Investor Communication Solutions, Inc. All rights reserved.
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA / SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Coastal Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
CFS representatives do not provide tax or legal guidance. For such guidance please consult with a qualified professional. Information shown is for general illustration purposes and does not predict or depict the performance of any investment or strategy. Past performance does not guarantee future results.
Trust Services are available through MEMBERS Trust Company. CFS* is not affiliated with Members Trust Company.